Fiat-Chrysler Alliance Almost Complete
Chrysler Group LLC and Fiat Group have dotted the ‘Is’ and crossed the ‘Ts’ on their global strategic alliance and will begin operations immediately. Those Chrysler operations that were ‘idled’ during the formation process will soon be up-and-running again.
Mr Sergio Marchionne has been named Chief Executive Officer and Mr C. Robert Kidder will be Chairman. Fiat will appoint three of the new company’s nine directors and four will be appointed by the U.S, Government.
The new alliance company appears to have many strengths – for example Fiat brings technology, platforms and powertrains for small cars plus an international distribution network with particular strengths in Latin America and Russia.
Clearly consumers will be the big winners in this deal with a raft of new, internationally competitive products emerging from the powerful new conglomerate.
“We intend to build on Chrysler’s culture of innovation and Fiat’s complementary technology and expertise to expand Chrysler’s product portfolio both in North America and overseas,” Mr Marchionne said.
